1. The transaction reported herein
reflects a repricing of options (the "Repricing") that was approved
by Walker Innovation Inc. stockholders on January 17, 2017. The
stock options were originally granted to the reporting person
February 14, 2014. As a result of the Repricing, such options now
have a lower exercise price; other than the reduced exercise price,
there have been no changes in the terms of such options. However,
under Section 16 of the Securities Exchange Act of 1934 and the
rules thereunder, a reduction in the exercise price of any option
is treated as effectively canceling the old option and granting a
new option as of the effective date of the repricing, and thus is
being reported accordingly in this Form 4.

2. Stock option granted pursuant to the
Walker Innovation Inc. (formerly known as Patent Properties, Inc.)
2015 Long-term Incentive Plan in respect of 141,666 shares
exercisable from and after February 14, 2015; 141,667 shares
exercisable from and after February 14, 2016; and 141,667 shares
exercisable from and after February 14, 2017.

3. The transaction reported herein
reflects a repricing of options (the "Repricing") that was approved
by Walker Innovation Inc. stockholders on January 17, 2017. The
stock options were originally granted to the reporting person March
20, 2015. As a result of the Repricing, such options now have a
lower exercise price; other than the reduced exercise price, there
have been no changes in the terms of such options. However, under
Section 16 of the Securities Exchange Act of 1934 and the rules
thereunder, a reduction in the exercise price of any option is
treated as effectively canceling the old option and granting a new
option as of the effective date of the repricing, and thus is being
reported accordingly in this Form 4.

4. Stock option granted pursuant to the
Walker Innovation Inc. (formerly known as Patent Properties, Inc.)
2015 Long-term Incentive Plan in respect of 25,000 shares
exercisable from and after February 14, 2016; 25,000 shares
exercisable from and after February 14, 2017; and 25,000 shares
exercisable from and after February 14, 2018.

Remarks:

/s/Jonathan A.
Siegel

03/20/2017

** Signature of Reporting Person

Date

Reminder: Report on a
separate line for each class of securities beneficially owned
directly or indirectly.

* If the form is filed by
more than one reporting person, see Instruction 4
(b)(v).